Blac Chyna -- Breaks Up with Money Team Boxer ... We Never Got to Bang

As we previously reported, The Money Team boxer and Blac Chyna got together back in May -- but postponed the sex because Love was training for a fight at the time.

After that, Love was observing Ramadan ... so the celibacy continued.

Unfortunately, we're told the relationship fizzled because both Love and Blac Chyna just got too busy to see each other in person -- so they called the whole thing off ... before ever hittin' the sheets.

We're told both sides are cool and "had fun crushing on each other" while it lasted.